EPR PROPERTIES - FORM 10-K - EX-12.1 - COMPUTATION OF RATIO OF EARNIGS TO FIXED CHARGES - February 26, 2010

Attached files

file filename
10-K - FORM 10-K - EPR PROPERTIESd10k.htm
EX-21 - COMPANY'S SUBSIDIARIES - EPR PROPERTIESdex21.htm
EX-23 - CONSENT OF KPMG LLP - EPR PROPERTIESdex23.htm
EX-31.2 - CERTIFICATION OF MARK A. PETERSON PURSUANT TO SECTION 302 - EPR PROPERTIESdex312.htm
EX-10.1 - AMENDED AND RESTATED MASTER CREDIT AGREEMENT DATED JUNE 30, 2009 - EPR PROPERTIESdex101.htm
EX-31.1 - CERTIFICATION OF DAVID M. BRAIN PURSUANT TO SECTION 302 - EPR PROPERTIESdex311.htm
EX-32.1 - CERTIFICATION BY CEO PURSUANT TO SECTION 906 - EPR PROPERTIESdex321.htm
EX-4.10 - AGREEMENT REGARDING OWNERSHIP LIMIT WAIVER - EPR PROPERTIESdex410.htm
EX-32.2 - CERTIFICATION BY CFO PURSUANT TO SECTION 906 - EPR PROPERTIESdex322.htm
EX-12.2 - COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES - EPR PROPERTIESdex122.htm

EXHIBIT 12.1

ENTERTAINMENT PROPERTIES TRUST

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(dollars in thousands)

 

     Year Ended December 31,  
     2009     2008     2007     2006     2005  

Earnings:

           

Income (loss) before gain on sale of land, equity in income from joint ventures, noncontrolling interests and discontinued operations (1)

    $ (12,801 )    $ 125,568      $ 97,503      $ 80,535      $ 68,188   

Fixed charges

      73,390        72,658        61,376        49,092        44,203   

Distributions from equity investments

      986        2,262        1,239        874        855   

Capitalized interest

      (600 )      (797 )      (494 )      (100 )      (160 ) 
                                        

Adjusted Earnings

    $ 60,975      $ 199,691      $ 159,624      $ 130,401      $ 113,086   
                                        

Fixed Charges:

           

Interest expense, net (including amortization of deferred financing fees)

    $ 72,715      $ 70,951      $ 60,505      $ 48,866      $ 43,749   

Interest income

      75        910        377        126        294   

Capitalized interest

      600        797        494        100        160   
                                        

Total Fixed Charges

    $ 73,390      $ 72,658      $ 61,376      $ 49,092      $ 44,203   
                                        

Ratio of Earnings to Fixed Charges

      0.8x        2.7x        2.6x        2.7x        2.6x   
                                        

(1) Earnings before gain on sale of land, equity in income from joint ventures, noncontrolling interests and discontinued operations for the year ended December 31, 2009 includes $42.2 million in impairment charges for properties held and used and $71.0 million in provision for loan losses.

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